How CrowdStrike, the Company Behind the Global Tech Outage, Keeps the World Running
The $90 billion cybersecurity behemoth has shed nearly $30 billion of its market cap since the IT outage incident.
Earlier this month (July 19), a historic computer outage that crashed 8.5 million computer system worldwide made CrowdStrike, a Texas-based cybersecurity company, an overnight household name. The incident was caused by a software update on Crowdstrike’s Falcon platform, which, when used on a Windows device, resulted in “read-out-of-bounds” memory safety errors that forced the device to stop working. The $90 billion cybersecurity behemoth has shed nearly $30 billion of its market cap since. CrowdStrike and its founder have a scarcely discussed meteoric rise to the helm of cybersecurity, quietly becoming responsible for keeping much of our global digital infrastructure safe from attacks.
